Bitcoin is considered to be the best-known cryptocurrency. Bitcoins are a form of digital currency that can be purchased, sold, or exchanged without the intervention of financial institutions like banks. The transaction conducted through bitcoins is available on a public ledge that others can access. Even if it is decentralized, public access helps reduce any fraudulent activities. Investors are using the official site that is designed to help limit the risk that comes with investing.
Various events took place on global fronts due to ease of use and transfer. Not only for direct fund transfers but bitcoin is mostly used in investment and trade. Novice investors usually consider bitcoins as unstable values owing to various factors.
Stock related events
Being engaged in crypto-currency investment, you should have acceptance of stock pricing to fall below 20%. Since crypto-currency is an emerging digital asset, it is difficult to ascertain the risk-tolerance level of stock prices.
In May 2022, crypto’s value fell downwards due to a drop-down of Bitcoins ($26000). It is being said that crypto declined by 45% in May 2022, making it highly volatile.
On 9th May 2022, a sharp fall of 5.2% was observed within 24 hours after the federal government announced an increase in national rates. In Europe, the stock price for crypto fell by 1.5%, while Nikkei registered a fall of 2.5% in Japan.
After 2018 an overall increase in the price of bitcoin can be seen that got a skyrocketing height in 2021. As a result, a 237% increase in bitcoin investment took place in 2018. From last year it is a 72% increase. So, you can also come to the list of investing cryptocurrency.
Australian investigation on digital currencies
Australians hold 96.3% of their money digitally, which banks and financial institutions regulate through debit and credit cards. CBDC, the Central Bank Digital currency being consulted, would be known as the “e-dollar.”
The cryptocurrency might be devalued in Australia as the “e-dollar” will be connected with currency and linked to blockchains for their verifications. This might threaten stock prices and the wider usage of crypto in Australia.
Support of UK government to crypto
In April (2022), Rishi Sunak (British Chancellor) announced UK’s intentions to make the UK a globally acclaimed hub for crypto. Thus, the UK could introduce policies and regulatory balances to help attract investors interested in cryptocurrency.
A policy proposed by Sunak includes the removal of tax barriers and the development of non-fungible tokens, which is expected to boost the economy of the UK. In the coming years, the UK could be on your list of investments in cryptocurrency.
Although, strict policies will be required to prevent any cybercrime, that has increased with digital transfers.
New payment model introduced by Swiss watch leader
TAG Heuer, a premium brand in watchmaking (Switzerland), has announced its new payment modes. To enhance customer experience and ensure security, Tag Heuer has developed a partnership with BitPay, which is expected to boost e-commerce revenues. BitPay will allow Tag and businesses to accept payments through crypto and related ones without encompassing technical issues. Buyers can purchase watches from online payment using bitcoins and cryptocurrency. Customers can spend $10,000 on bitcoins or crypto without imposing spending limits.
No- change in the Bitcoin strategy of MicroStrategy
On May 19, 2022, MicroStrategy announced that it would not change the existing bitcoin strategy. In an interview, CFO confirmed that stakeholders are not pressuring the company, and hence, the buying and selling of bitcoin will be the same.
CFO explained that cryptocurrency and bitcoin markets had encompassed turmoil, leading to the development of strong policies that could strengthen the market for such types of digital currencies. Hence, the CFO of MicroStrategy did not see any issues with the bitcoin market and its strategic alignment.
Argentina launches Bitcoin education for high schools
Argentina has launched its School and Bitcoin project to strengthen Bitcoin education. It is expected that 4000 young participants will initiate the programs in more than 40 schools. Argentina has already faced hyperinflation, due to which the country has now become the second-largest nation to adopt crypto-currency.
NGO named Bitcoin Argentina has collaborated to Build with Bitcoin to educate students on digital currencies like bitcoin and cryptocurrency. They named the project ‘School and Bitcoins’. The country aims to train the new generation on digital currencies like Bitcoin and blockchain to foster innovation, which could prevent the occurrence of hyperinflation again. It will also open up new doors for more innovation and maybe for the creation of some more cryptocurrencies.
Conclusion
Bitcoin and crypto-currency are emerging forms of digital currencies that lack centralization and policies. Although owing to its features and advantages over paper money, many countries and companies are undertaking steps to improve its acceptance and support the development of regulations.
